India-based Allcargo Logistics is investing over 1,000 crore rupees ($135.1 million) to set up four logistics parks at key locations over the next two years seeing larger opportunities as the economy moves on at a faster clip.
Allcargo will utilize its land banks acquired in the past few years in anticipation of goods and services tax implementation as well as growth expected in the domestic logistics business.
The proposed logistics parks will come up at Jhajjar in Haryana on a 180-acre land and will be ready by next March with a built-up area of three million square feet, 2.5 million square feet in Bengaluru, 1.5 million square feet at Jawaharlal Nehru Port and 0.5 million square feet in Hyderabad.
Allcargo said it will be pumping in over $135.2 million over phases as it signs up long-term contracts with its customers. The company expects to have a logistics park capacity of 15 million square feet by 2020.